Expro Oilfield Services files to sell shares in U.S. offering

Expro Oilfield Services files to sell shares in U.S. offering

READING, United Kingdom (Bloomberg) -- Expro Oilfield Services Plc filed to sell shares in the U.S. after its private-equity owners held talks about a sale of the British oilfield-services provider.

Expro, owned by Arle Capital Partners LLP, Alpinvest Partners NV and Goldman Sachs Group Inc., filed to sell as much as $100 million of American Depositary shares, according to a filing with the U.S. Securities and Exchange Commission today, July 1.

The Reading, England-based company provides exploration and appraisal testing along with drilling technologies and services. Expro attracted interest from Schlumberger Ltd. and General Electric Co. and could have fetched about 3 billion pounds ($5.1 billion), people with knowledge of the matter said in January.

Expro had adjusted earnings before interest, tax, depreciation and amortization of $365 million on revenue of $1.3 billion in the year through March, the filing shows. The company will use the money raised in the offering to pay down debt.

Goldman Sachs and Deutsche Bank AG had been advising Expro’s owners on the sale talks.